Benton Provides Additional Information Regarding Acquisition Agreement with Noble Minerals

Rhea-AI Summary

Benton Resources (OTC:BNTRF) filed with the TSX Venture Exchange on October 30, 2025 seeking approval to acquire a 100% interest in Noble Mineral Exploration's Island Pond Property.

The Island Pond Property is a single mineral licence of 7 claims (175 hectares) contiguous to Benton's South Pond Gold Zone in the Great Burnt Copper-Gold project area. Consideration is a $30,000 cash payment plus 1,000,000 common shares to Noble, with the shares subject to a four-month hold period after Exchange approval.

The project carries an underlying 2% NSR (assumed by Benton, with a buyback right for $1.5M) and a 1% NSR to Noble (with a right of first refusal). No finders' fees were paid.

Positive

• Adds 175 hectares contiguous to South Pond Gold Zone
• Acquisition grants 100% interest in Island Pond Property
• Benton assumes NSR with a $1.5M buyback option

Negative

• Consideration includes 1,000,000 shares, causing potential dilution
• Project encumbered by combined 3% NSR (2% original + 1% to Noble)

Thunder Bay, Ontario--(Newsfile Corp. - October 30, 2025) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that, further to its October 14, 2025 news release, it has made a filing with the TSX Venture Exchange (the "Exchange") seeking approval of its purchase agreement to acquire a 100% interest in Noble Mineral Exploration Inc. ("Noble") Island Pond Property. The Island Pond Property consists of a single mineral license encompassing 7 claims covering 175 hectares and is tied directly to the northern boundary of the Company's South Pond Gold Zone within the Great Burnt Copper-Gold project area in Newfoundland. Subject to Exchange approval, the Company will pay a one-time cash payment of $30,000 and issue 1,000,000 common shares to Noble.

The shares will have a standard four-month hold period from the Exchange approval date and the project is subject to an underlying 2% Net Smelter Royalty (NSR) to an original underlying vendor and a 1% NSR to Noble. Benton will assume all rights of the original 2%, including the right to buy the NSR back for $1.5M, and a right-of-first-refusal for Noble's 1% NSR.

The transaction with Noble was arm's length in nature and no finders' fees are being paid in connection with the purchase agreement.

QP

Stephen House (P.Geo.), Vice President of Exploration for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.

QA/QC Protocols

Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Newfoundland for preparation and analysis. All samples were acquired by saw-cut (channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks) and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using Eastern's Au (Fire assay) @ 30g + ICP-34 method that delivers a 34-element package utilizing a 200 mg subsample totally dissolved in four acids and analyzed by ICP-OES analytical technique. Overlimits are analysed with Eastern's atomic absorption method, using a 0.200 g to 2.00 g of sample, digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February 2014 (for more details on the scope of accreditation visit the CALA website). Grab samples are selective in nature and may not represent the average mineralization of a bedrock exposure.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.

Benton is focused on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and 482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu. Drilling at the South Pond Gold Zone, approximately 7.5 km north of the Great Burnt Copper-Gold Zone, has confirmed a robust gold-mineralized system over 2.7 km with results of 74.20 m of 1.43g/t Au and 43.75 m of 1.62g/t Au and is open for expansion in all directions.

On behalf of the Board of Directors of Benton Resources Inc.,

"Stephen Stares"
Stephen Stares, President

Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.

For further information, please contact:

Stephen Stares, President & CEO
Phone: 807-474-9020
Email: sstares@bentonresources.ca

Nick Konkin, Investor Relations
Phone: 647-249-9298 ext. 322
Email: nick@grovecorp.ca

Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272668

FAQ

What did Benton announce on October 30, 2025 about BNTRF and Noble?

Benton filed to acquire 100% of the Island Pond Property from Noble for $30,000 cash plus 1,000,000 common shares, subject to Exchange approval.

How large is the Island Pond Property included in the BNTRF acquisition?

The Island Pond Property comprises 7 claims totaling 175 hectares and is directly adjacent to Benton's South Pond Gold Zone.

What royalty encumbrances come with Benton's BNTRF purchase of Island Pond?

The project is subject to a 2% NSR to the original vendor (assumed by Benton) and a 1% NSR to Noble, for a combined 3% NSR.

What buyback or ROFR terms affect BNTRF's new NSR obligations?

Benton assumes the original 2% NSR with the right to buy it back for $1.5M, and Noble retains a right of first refusal on its 1% NSR.

When will the 1,000,000 BNTRF shares issued to Noble be tradable?

The issued shares will carry a standard four-month hold period measured from the Exchange approval date.

What QA/QC and assay methods did Benton disclose for BNTRF samples?

Samples were submitted to Eastern Analytical (ISO/IEC 17025) using Au fire assay @30g + ICP-34 with overlimits by atomic absorption; all assays reported are uncut.